Huobi crypto exchange starts its operations in Brazil

31 May 2018

Huobi, a Singapore-based multi-language digital currency trading platform and exchange originally incorporated in China, is opening its office in Brazil, according to the report made by CoinDesk. First note of the potential move to the Brazilian market appeared in the media this Tuesday, when a Brazilian source unveiled that executives from the cryptocurrency exchange were providing their name cards at a local event and held some talks with outstanding specialists.

Thus, the preliminary report also revealed that Huobi may have established a joint venture with opening an office in São Paulo, and that the firm is looking for personnel through LinkedIn profile by posting staff positions.

Meantime, CoinDesk made its own inquiry to the exchange seeking for some confirmation, and Huobi representative said that the company has intent to expand its presence into the Brazilian stage, however, the representative provided no other details.

This is the latest move of Huobi, which moved from China on the heels of the national ban on cryptocurrency trading to Singapore, to establish its presence and achieve recognition across global markets. This March the exchange obtained a registration in the United States from FinCEN, starting its business as a money service provider. Additionally, it was also reported that Huobi is seeking to enter the Canadian market, being at an early stage of preparation.